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Celebrating its 5th anniversary this year, ERMA of Turkey designed its annual conference around the risk discussion title “Global Risks, Local Impacts and How We Manage?”

The event, held at the Milli Reinsurance Company in Macka, Istanbul, brought together more than 140 CEOs, CFOs, CROs, board members, risk managers and academicians.
Our speakers included FERMA President Julia Graham; Dr. Wolfango Piccoli of Teneo Intelligence of London; Harold Dorbin of Marsh Global Project Risk Management Practice; and economist Prof. Dr. Burak Saltoglu of Bogazici University and founder of Riskturk.

The discussions started at the macro level and narrowed down to the company specific issues with each speaker. Burak Saltoglu kicked off the discussion with macroeconomic issues and the actions of global players that move the markets and the business worlds. Financial risks and hedging instruments, as well as volatilities affecting energy and food prices and the growth of the Turkish economy were a few of the key topics Saltoglu brought forward.

Following him, Wolfango Piccoli carried out a discussion around the changing face of political risk and why it matters to the business environment. Later he took the audience around a global tour with risk analysis pit stops in countries like Ukraine, North Korea, Iraq, Iran and other Middle East and North African countries, and the EU.

Harold Dorbin demonstrated how the global economic slowdown has shifted the size and distribution of large construction projects from developed countries to emerging countries. He also talked about the key risks that impact mega projects and shared his experiences around managing such risks.

Lastly, FERMA President Julia Graham presented FERMA and provided an impactful introduction to FERMA itself as well as the Certification Programme that will be rolled out in 2015. Addressing the risk managers in the audience, she referred to a few good resources and publications useful for professionals and provided examples of how such topics can be linked to the agendas of risk and board committees. Julia also discussed the insurance sector and how the sector and the services/products offered are evolving in light of the changing risk environment companies are facing.

The event was a huge success. ERMA continues to receive very positive feedback from participants and queries on its activities from interested parties. Please do access the programme details including the presentations of speakers (in English) at ERMA’s website

Thank you to Julia Graham for establishing such strong support and connectivity from FERMA to ERMA and the guidance and professional development news to the risk managers in Turkey.